Rave Restaurant Group (NASDAQ:RAVE) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Rave Restaurant Group (NASDAQ:RAVE) in a research note published on Thursday. The brokerage issued a buy rating on the restaurant operator’s stock.

Separately, TheStreet downgraded shares of Rave Restaurant Group from a b rating to a c+ rating in a research note on Wednesday, December 20th.

Rave Restaurant Group Price Performance

NASDAQ:RAVE opened at $2.05 on Thursday. Rave Restaurant Group has a one year low of $1.48 and a one year high of $2.64. The company’s 50-day simple moving average is $1.97 and its 200 day simple moving average is $2.12. The firm has a market capitalization of $29.91 million, a P/E ratio of 15.77 and a beta of 0.33.

Rave Restaurant Group (NASDAQ:RAVE) last posted its quarterly earnings data on Thursday, February 1st. The restaurant operator reported $0.04 EPS for the quarter. Rave Restaurant Group had a net margin of 15.94% and a return on equity of 18.06%. The business had revenue of $2.79 million for the quarter.

Insider Activity

In related news, insider Value Llp Ima acquired 51,921 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was purchased at an average cost of $1.96 per share, with a total value of $101,765.16. Following the completion of the acquisition, the insider now directly owns 1,011,807 shares of the company’s stock, valued at $1,983,141.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 27.80% of the stock is owned by corporate insiders.

Institutional Trading of Rave Restaurant Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RAVE. Virtu Financial LLC boosted its position in shares of Rave Restaurant Group by 166.2% in the first quarter. Virtu Financial LLC now owns 67,144 shares of the restaurant operator’s stock worth $72,000 after purchasing an additional 41,918 shares during the period. Renaissance Technologies LLC boosted its position in shares of Rave Restaurant Group by 38.2% in the third quarter. Renaissance Technologies LLC now owns 243,800 shares of the restaurant operator’s stock worth $341,000 after purchasing an additional 67,444 shares during the period. Geode Capital Management LLC boosted its position in shares of Rave Restaurant Group by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 137,411 shares of the restaurant operator’s stock worth $217,000 after purchasing an additional 6,896 shares during the period. James Investment Research Inc. bought a new position in shares of Rave Restaurant Group in the third quarter worth approximately $36,000. Finally, Charles Schwab Investment Management Inc. bought a new position in shares of Rave Restaurant Group in the third quarter worth approximately $107,000. 15.12% of the stock is owned by hedge funds and other institutional investors.

About Rave Restaurant Group

Rave Restaurant Group, Inc, together with its subsidiaries, engages in the operation and franchising of pizza buffet, delivery/carry-out (delco), and express restaurants under the Pizza Inn and Pie Five trademarks in the United States and internationally. The company operates through three segments: Pizza Inn Franchising, Pie Five Franchising, and Company-Owned Restaurants.